With an estimated 70 percent of new projects failing to add value to the organization, reducing project failure rate represents one of the biggest improvement opportunities available today. This book highlights proven approaches designed to separate the successful projects from the potential losers before the projects are started. This represents huge savings in manpower, money, and time. The book shows you how to reduce project cycle time and apply resources effectively to maximize results and project success rates. Effective Portfolio Management Systems provides a roadmap for the implementation of an organizational Portfolio Project Management (PPM) system and a model for driving sustainable change. It takes you through the complete project/program management cycle from the submittal of the proposed projects to the management of their implementation. To do this, the authors present an effective, proven, four-phase Organizational Portfolio Management (OPM) system: Phase I: Developing the Organizational Portfolio involves selecting the right mix of projects/programs based upon resource limitations and risks involved. Phase II: Creating the OPM System Implementation Plan is the development of a plan to minimize the resources consumed, reduce cycle time, and increase the ability of the projects to meet their projected value-added content to the organization. Phase III: Implementing the OPM System focuses on the complexity of managing an Organizational Portfolio and keeping it aligned with the organization's goals and objectives. This phase provides a roadmap for the implementation of an organizational PPM system, including sample plans and PMO Implementation/Management Templates. Phase IV: Practical Applications of Project Change Management within the OPM System focuses on overcoming the difficulties related to the continuous changing environment and project

The best time to stop projects or programs that will not be successful is before they are ever started. Research has shown that the focused use of realistic business case analysis on proposed initiatives could enable your organization to reduce the amount of project waste and churn (rework) by up to 40 percent, potentially avoiding millions of dollars lost on projects, programs, and initiatives that would fail to produce the desired results. This book illustrates how to develop a strong business case which links investments to program results and, ultimately, with the strategic outcomes of the organization. In addition, the book provides a template and example case studies for those seeking to fast-track the development of a business case within their organization.Making the Case for Change: Using Effective Business Cases to Minimize Project and Innovation Failures provides executive teams and change agents with the information required to make better business case decisions. This book can be used throughout the life cycle of the project to assist with gaining a better understanding of the following key knowledge areas for developing a business case: Understanding the present problem/improvement opportunity Documenting how the project, program, or initiative will add value to the organization Validating the data and the assumptions that the projected improvements are based upon Calculating the level of confidence that can be placed upon the conclusions that are reached Assessing the alternative solutions that were considered Weighing the costs vs. the benefits of the proposed initiative Analyzing and mitigating the risks to completing 100 percent of the project's goals Eliciting and prioritizing the requirements of key stakeholders and subject matter experts Identifying the key people that are involved in the proposed project and the skil

The best time to stop projects or programs that will not be successful is before they are ever started. Research has shown that the focused use of realistic business case analysis on proposed initiatives could enable your organization to reduce the amount of project waste and churn (rework) by up to 40 percent, potentially avoiding millions of dollars lost on projects, programs, and initiatives that would fail to produce the desired results. This book illustrates how to develop a strong business case which links investments to program results and, ultimately, with the strategic outcomes of the organization. In addition, the book provides a template and example case studies for those seeking to fast-track the development of a business case within their organization. Making the Case for Change: Using Effective Business Cases to Minimize Project and Innovation Failures provides executive teams and change agents with the information required to make better business case decisions. This book can be used throughout the life cycle of the project to assist with gaining a better understanding of the following key knowledge areas for developing a business case: Understanding the present problem/improvement opportunity Documenting how the project, program, or initiative will add value to the organization Validating the data and the assumptions that the projected improvements are based upon Calculating the level of confidence that can be placed upon the conclusions that are reached Assessing the alternative solutions that were considered Weighing the costs vs. the benefits of the proposed initiative Analyzing and mitigating the risks to completing 100 percent of the project's goals Eliciting and prioritizing the requirements of key stakeholders and subject matter experts Identifying the key people that are involved in the proposed project and the skills needed to implement the proposed change Obtaining consensus on the decision to move forward, as well as on the methods used and the conclusions specified in the analysis Ideal for executives and project/initiative managers seeking approval of an activity, initiative, program, or project, the book presents proven tips, advice, suggestions, and recommended courses of action for developing effective business cases. In addition, suggestions for recruiting a responsible senior officer or sponsor for the project and for engaging an audience are provided. The authors combine their own experience in business case development with approaches used by world-class organizations. They provide a general range of assessment criteria that can be applied to almost any type of project business cases. The text discusses each of the 8 activities and the 35 tasks that make up the business case development process. This process supplies you with a proven approach for creating comprehensive and well-constructed business case evaluations that will either ensure the success of your project, or eliminate unsuccessful projects, programs, and initiatives before they start.

With an estimated 70 percent of new projects failing to add value to the organization, reducing project failure rate represents one of the biggest improvement opportunities available today. This book highlights proven approaches designed to separate the successful projects from the potential losers before the projects are started. This represents huge savings in manpower, money, and time. The book shows you how to reduce project cycle time and apply resources effectively to maximize results and project success rates. Effective Portfolio Management Systems provides a roadmap for the implementation of an organizational Portfolio Project Management (PPM) system and a model for driving sustainable change. It takes you through the complete project/program management cycle-from the submittal of the proposed projects to the management of their implementation. To do this, the authors present an effective, proven, four-phase Organizational Portfolio Management (OPM) system: Phase I: Developing the Organizational Portfolio involves selecting the right mix of projects/programs based upon resource limitations and risks involved. Phase II: Creating the OPM System Implementation Plan is the development of a plan to minimize the resources consumed, reduce cycle time, and increase the ability of the projects to meet their projected value-added content to the organization. Phase III: Implementing the OPM System focuses on the complexity of managing an Organizational Portfolio and keeping it aligned with the organization's goals and objectives. This phase provides a roadmap for the implementation of an organizational PPM system, including sample plans and PMO Implementation/Management Templates. Phase IV: Practical Applications of Project Change Management within the OPM System focuses on overcoming the difficulties related to the continuous changing environment and project requirements that are encountered as projects are developed and implemented in today's demanding conditions. This phase provides guidelines for effectively enrolling, communicating with, and training the individuals who are impacted by the project/program to effectively drive sustainable change. At first glance, an OPM system may look like increased bureaucracy. However, when it results in a 20-percent increase in the percentage of projects that are successful, it really turns out to be one of the best resources an organization can invest in to ensure profitability and long-term sustainable results.